Wheatland Bank To Join Glacier Bancorp
We are pleased to announce Wheatland Bank will be joining the Glacier Bancorp family of banks.
As of Tuesday, August 8, 2023, the board of directors for Community Financial Group, Inc., the Spokane-based holding company of Wheatland Bank, unanimously voted to enter into an agreement to join the Glacier Bancorp family of banks. Pending approval by Community Financial Group, Inc. shareholders and approval by the banking regulators, Wheatland Bank will officially become part of Glacier Bancorp in the 4th quarter of 2023.
The Glacier family of banks includes North Cascades Bank, headquartered in Chelan, Washington, with 9 branches and approximately 100 employees. The North Cascades division will merge into the new Wheatland Bank division. Susan Horton, Wheatland’s President and Chief Executive Officer, will continue to lead the new larger and expanded Wheatland Bank division in the same capacity. The new combined division will initially be $1.6 billion in assets and operate with 23 branches and approximately 250 employees throughout eastern and central Washington.
What does this mean for you as a Wheatland Bank customer?
Why is Wheatland Bank merging with Glacier?
Our Board of Directors and leadership team want to cement Wheatland Bank’s legacy and secure our future. Partnering with Glacier strengthens our position in the marketplace and creates more opportunity for all stakeholders. This is the right opportunity at the right time and Glacier Bancorp is the right partner. Glacier is a Montana banking company with 17 community banks operating autonomously in eight western states.
Glacier will be combining an existing division of theirs, North Cascades Bank, into the Wheatland Bank division, and the new division will initially have 23 branches throughout eastern and central Washington. Susan Horton will serve as the President and CEO of the new larger combined division which will initially have over $1.6 billion in assets. Glacier’s new Wheatland division will become eastern Washington’s #4 market leader in deposit market share, and will have access to a much larger lending limit to meet the needs of our existing and future customer base. This larger scale, combined with all the depth and breadth of Glacier resources, will expand our footprint into more of North Central Washington and fuel significant growth opportunities into the future. Glacier’s business model and culture are a great fit for us, and combining with Glacier will fortify our lending capacity and competitive advantage.
Will Wheatland Bank’s name change?
No. Our name and logo will remain the same, but formally we’ll be known as Wheatland Bank, a division of Glacier Bank.
When will the merger be complete?
Wheatland Bank will combine with North Cascades Bank and formally join the Glacier family in the 4th quarter of 2023.
Will I still see the same employees at my branch?
You’ll see the same familiar employees helping you with your financial needs.
Will Wheatland Bank’s community efforts change?
All the banks in the Glacier family share a core belief in the importance of supporting local communities. Our commitment to charitable support will remain unchanged.
How will my accounts change?
There will be no immediate changes. You may continue using your checks, credit and debit cards, and online and mobile banking services. The terms and conditions of your loans and lines of credit will remain the same.
What about after the merger?
We will provide plenty of advance notice of any changes.
Will any of Wheatland Bank’s offices be closed or combined?
For the time being, it is business as usual. As we approach conversion – when Wheatland Bank is fully integrated into Glacier’s systems – we will know more and, at that time, we may streamline branches along geographical lines. This is being studied right now and would only affect a few locations but it does represent change. Should this happen, you will have ample notice. One of the great advantages of the Glacier model is that Wheatland customers will be able to transact business in any of the 17 bank divisions’ 225 branches throughout the 8 states they operate in.
Will Wheatland Bank and Mountain West Bank be competing with each other?
The Glacier model is to own community banks with the highest quality people and assets in great markets and allow them to operate autonomously. For example, Glacier owns six separate community banks in its home state of Montana, and it works. In Washington and Idaho, each entity – the newly combined Wheatland Bank and Mountain West Bank – will have its own geographic focus, will work together if such an opportunity arises, and will compete only with other banks in their respective regions.
Will there be enhancements to my services?
Yes, becoming part of Glacier will ultimately provide our customers and employees with several new products, services, and tools for continued success. Once the merger is complete, account enhancements will include free access to over 55,000 ATMs participating in the worldwide Allpoint network. We’ll have more enhancements to share with you as we get closer to our system conversion.
If I have questions, who can I call?
You can call or visit your local branch, or call your loan officer, mortgage officer or relationship banker. You may also call Wheatland Bank Customer Service at 1-888-896-2577.